|
Rogernomics
Rogernomics (a portmanteau of ''Roger'' and ''economics'' modelled on Reaganomics) were the neoliberal economic reforms promoted by Roger Douglas, the Minister of Finance between 1984 and 1988 in the Fourth Labour Government of New Zealand. Rogernomics featured market-led restructuring and deregulation and the control of inflation through tight monetary policy, accompanied by a floating exchange-rate and reductions in the fiscal deficit. Dalziel, Paul in Easton, Brian ed ''The Making of Rogernomics'' Auckland University Press 1989 p. 53 During the early 1980s, Douglas transitioned from a traditional Labour politician advocating for economic interventionism to a proponent of neoliberal economics. After the Labour Party won government in 1984, Douglas and his associates implemented major policies including a 20% devaluation of the dollar, corporatisation of state-owned business, removal of subsidies to industries (particularly agricultural subsidies), reduction of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fourth Labour Government Of New Zealand
The Fourth Labour Government of New Zealand governed New Zealand from 26 July 1984 to 2 November 1990 (the period up to 8 August 1989 is also called the Lange Government). It was the first Labour government to win a second consecutive term since the First Labour Government of 1935 to 1949. The policy agenda of the Fourth Labour Government differed significantly from that of previous Labour governments: it enacted major social reforms (such as legalising homosexual relations) and economic reforms (including corporatisation of state services and reform of the tax system). The economic reforms became known as " Rogernomics", after Finance Minister Roger Douglas. According to one political scientist: The Labour government also enacted nuclear-free legislation, which led to the United States suspending its treaty obligations to New Zealand under the ANZUS alliance. David Lange led the government for most of its two three-year terms in office. Lange and Douglas had a fallin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roger Douglas
Sir Roger Owen Douglas (born 5 December 1937) is a retired New Zealand politician, economist and accountant who served as a minister in two Labour governments. He is most recognised for his key involvement in New Zealand's radical economic restructuring in the 1980s, when the Fourth Labour Government's economic policy became known as " Rogernomics", which implemented neoliberal economic policies. Douglas served as a Labour Member of Parliament from 1969 to 1990. During his time as Minister of Finance (1984 to 1988), the government floated the New Zealand dollar, introduced corporate practices to state services, sold off state assets, and removed a swathe of regulations and subsidies. Some Labour Party supporters regarded Douglas's economic policies as a betrayal of Labour's left-wing policy-platform, and the moves became deeply unpopular with the public and with ordinary party members. His supporters defended the reforms as necessary to revive the economy, which had been tight ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Labour Party
The New Zealand Labour Party, also known simply as Labour (), is a Centre-left politics, centre-left political party in New Zealand. The party's platform programme describes its founding principle as democratic socialism, while observers describe Labour as social democracy, social democratic and pragmatic in practice. The party participates in the international Progressive Alliance. It is one of two Major party, major political parties in New Zealand, alongside its traditional rival, the New Zealand National Party, National Party. The New Zealand Labour Party formed in 1916 out of various Socialism in New Zealand, socialist parties and trade unions. It is the country's oldest political party still in existence. Alongside the National Party, Labour has alternated in leading List of New Zealand governments, governments of New Zealand since the 1930s. , there have been six periods of Labour government under 11 Labour List of prime ministers of New Zealand, prime ministers. The part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberal
Neoliberalism is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. The term has multiple, competing definitions, and is most often used pejoratively. In scholarly use, the term is often left undefined or used to describe a multitude of phenomena. However, it is primarily employed to delineate the societal transformation resulting from market-based reforms. Neoliberalism originated among European Liberalism, liberal scholars during the 1930s. It emerged as a response to the perceived decline in popularity of classical liberalism, which was seen as giving way to a social liberal desire to control markets. This shift in thinking was shaped by the Great Depression and manifested in policies designed to counter the volatility of free markets. One motivation for the development of policies designed to mitigate the volatility of capitalist free markets was a desire to avoid repeatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Reform
Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide policies such as tax policy and competition policy with an emphasis on economic efficiency, rather than other goals such as equity or employment growth. "Economic reform" usually refers to deregulation, or at times to reduction in the size of government, to remove distortions caused by regulations or the presence of government, rather than new or increased regulations or government programs to reduce distortions caused by market failure. As such, these reform policies are in the tradition of laissez faire, emphasizing the distortions caused by government, rather than in ordoliberalism, which emphasizes the need for state regulation to maximize efficiency. Microeconomic reform in Australia Microeconomic reform dominated Australian economic po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (New Zealand)
The minister of Finance (), originally known as colonial treasurer, is a minister and the head of the New Zealand Treasury, responsible for producing an annual New Zealand budget outlining the government's proposed expenditure. The position is often considered to be the most important cabinet post after that of the prime minister. The current Minister of Finance is Nicola Willis. There are currently three associate minister roles held by Chris Bishop, David Seymour, and Shane Jones. Responsibilities and powers One of the Minister of Finance's key roles involves the framing of the annual year budget. According to Parliament's Standing Orders, the Minister of Finance may veto any parliamentary bill which would have a significant impact on the government's budget plans. The Minister of Finance supervises the Treasury, which is the government's primary advisor on matters of economic and financial policy. As such, the Minister of Finance has broad control of the governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reaganomics
Reaganomics (; a portmanteau of ''Reagan'' and ''economics'' attributed to Paul Harvey), or Reaganism, were the Neoliberalism, neoliberal economics, economic policies promoted by United States President, U.S. President Ronald Reagan during the 1980s. These policies focused mainly on supply-side economics; however, opponents (including some Republicans) characterized them as "trickle-down economics" or Voodoo Economics, while Reagan and his advocates preferred to call it free market economy, free-market economics. The pillars of Reagan's economic policy included increasing defense spending, slowing the growth of United States federal budget, government spending, reducing the federal income tax and capital gains tax, reducing government regulation, and tightening the money supply in order to reduce inflation. The results of Reaganomics are still debated. Supporters point to the end of stagflation, stronger GDP growth, and an entrepreneurial revolution in the decades that followe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goods And Services Tax (New Zealand)
Goods and Services Tax (GST; ) is a value-added tax or consumption tax for goods and services consumed in New Zealand. GST in New Zealand is designed to be a broad-based system with few exemptions, such as for rents collected on residential rental properties, donations, precious metals and financial services. It normally makes up around 30% of tax revenue in New Zealand. The rate for GST, effective since 1 October 2010 is 15%. This 15% tax is applied to the final price of the product or service being purchased and goods and services are advertised as GST inclusive. Reduced rate GST (9%) applies to hotel accommodation on a long-term basis (longer than 4 weeks). Zero rate GST (0%) applies to exports and related services; financial services; land transactions; international transportation. Financial services, real estate and precious metals are also exempt. History GST was introduced on 1 October 1986 by the Minister of Finance, Roger Douglas, at a rate of 10% on goods and servic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Portmanteau
In linguistics, a blend—also known as a blend word, lexical blend, or portmanteau—is a word formed by combining the meanings, and parts of the sounds, of two or more words together.Garner's Modern American Usage p. 644. English examples include '' smog'', coined by blending ''smoke'' and ''fog'', and '''', from ''motor'' ('' motorist'') and ''hotel''. A blend is similar to a [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Employment
Full employment is an economic situation in which there is no cyclical or deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. Full employment does not entail 100% employment-to-population ratio. For instance, workers who are "between jobs" for short periods of time as they search for better employment are not counted against full employment, as such unemployment is frictional rather than cyclical. An economy with full employment might also have unemployment or underemployment where part-time workers cannot find jobs appropriate to their skill level, as such unemployment is considered structural rather than cyclical. Full employment marks the point past which expansionary fiscal and/or monetary policy cannot reduce unemployment any further without causing inflation. Some economists define full employment somewhat differently, as the unemployment rate at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small Government
Small means of insignificant size. Small may also refer to: Science and technology * SMALL, an ALGOL-like programming language * ''Small'' (journal), a nano-science publication * <small>, an HTML element that defines smaller text Arts and entertainment Fictional characters * Small, in the British children's show Big & Small Other uses * Small (surname) * List of people known as the Small * "Small", a song from the album ''The Cosmos Rocks'' by Queen + Paul Rodgers See also * Smal (other) Smal may refer to: People * (1927-2001), Dutch musician * Georges Smal (1928–1988), Belgian writer * Gert Smal (born 1961), South African rugby player * Gijs Smal (born 1997), Dutch football player * (born 1939), Belgian politician; a memb ... * Smalls (other) {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Budgets
A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A ''cyclically'' balanced budget is a budget that is not necessarily balanced year-to-year but is balanced over the economic cycle, running a surplus in boom years and running a deficit in lean years, with these offsetting over time. Balanced budgets and the associated topic of budget deficits are a contentious point within academic economics and within politics. Some economists argue that moving from a budget deficit to a balanced budget decreases interest rates, increases investment, shrinks trade deficits and helps the economy grow faster in the longer term. Other economists, especially (but not limited to) those associated with Modern Monetary Theory (MMT), downplay the need for balanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
